Royce & Associates LP lowered its stake in shares of TESSCO Technologies, Inc. (NASDAQ:TESS) by 91.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,632 shares of the communications equipment provider’s stock after selling 39,149 shares during the quarter. Royce & Associates LP’s holdings in TESSCO Technologies were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in TESS. Oppenheimer Asset Management Inc. purchased a new position in shares of TESSCO Technologies during the fourth quarter valued at about $68,000. Wedge Capital Management L L P NC increased its position in shares of TESSCO Technologies by 32.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 82,740 shares of the communications equipment provider’s stock valued at $993,000 after buying an additional 20,161 shares during the period. Bank of New York Mellon Corp increased its position in shares of TESSCO Technologies by 26.7% during the fourth quarter. Bank of New York Mellon Corp now owns 83,141 shares of the communications equipment provider’s stock valued at $998,000 after buying an additional 17,542 shares during the period. Putnam Investments LLC increased its position in shares of TESSCO Technologies by 26.9% during the third quarter. Putnam Investments LLC now owns 126,910 shares of the communications equipment provider’s stock valued at $1,935,000 after buying an additional 26,910 shares during the period. Finally, BlackRock Inc. increased its position in shares of TESSCO Technologies by 5.1% during the fourth quarter. BlackRock Inc. now owns 205,597 shares of the communications equipment provider’s stock valued at $2,467,000 after buying an additional 9,891 shares during the period. Institutional investors own 59.46% of the company’s stock.
Several brokerages recently issued reports on TESS. ValuEngine cut shares of TESSCO Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday. TheStreet upgraded shares of TESSCO Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 1st. Zacks Investment Research upgraded shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Saturday, January 26th. Finally, William Blair reiterated a “buy” rating on shares of TESSCO Technologies in a research report on Tuesday, November 20th.
TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings data on Thursday, January 24th. The communications equipment provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.13. The business had revenue of $152.30 million for the quarter, compared to analysts’ expectations of $161.20 million. TESSCO Technologies had a net margin of 0.93% and a return on equity of 5.24%. As a group, research analysts forecast that TESSCO Technologies, Inc. will post 0.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 27th. Shareholders of record on Wednesday, February 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Tuesday, February 12th. TESSCO Technologies’s dividend payout ratio (DPR) is presently 145.45%.
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TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.
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